Innoplast Inc. is acquiring American Sign Products in a move that increases its presence in the traffic safety industry.
American Sign of Macedonia, Ohio, converts and distributes specialty vinyl, adhesives and reflective tapes used by sign, vehicle and safety product manufacturers, Innoplast said. The purchase of American Sign includes its American Reflective Products brand.
"The purchase of American Sign Products aligns well with Innoplast's strategy of acquiring profitable, scalable distribution companies in the traffic safety market," Innoplast CEO Craig McConnell said in a statement.
Innoplast, owned by ScaleCo Management LLC of Cleveland, said the move "supports the investment thesis to grow Innoplast organically and to make strategic investments in the traffic safety industry."
Lon Lanzendorfer co-founded the company in 1988 with Bernie Ruhaak.
"Finding ways to lower costs, the development of new cost-effective constructions, and/or the reduction of EOQs [economic order quantities] all to benefit our customers' bottom line," Lanzendorfer said in a statement.
Innoplast is based in nearby Chagrin Falls, Ohio, and makes bollard covers and other parking lot products. Bollards are posts used to keep traffic out of certain areas and to protect against potential damage from vehicles, and Innoplast uses high-density polyethylene to make its covers.